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Hedge Fund and Insider Trading News: Eddie Lampert, Crispin Odey, Third Point LLC, BioCardia Inc (BCDA), Mercantil Bank Holding Corp (AMTB), Stanley Furniture Co. (STLY), and More

Sears May Be Down to Its Last 24 Hours. Iconic Retailer Likely Liquidates If No Bid Comes in Friday (CNBC)
Sears, the 125-year-old icon, has 24 hours to survive. The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party offering to buy Sears as a whole, people familiar with the situation tell CNBC. Without that bid or another like it, liquidators will break the company up into pieces.

Pro-Brexit London Hedge-Fund Manager Odey Sees Full-Year Profit Cut in Half (MarketWatch)
Brexit-supporting hedge-fund manager Crispin Odey has seen profits more than halved at his boutique investment house. Operating profit has slumped to £8.7 million (roughly $11 million) for the year ending in April 2018 from £18.6 million, according to the latest accounts for Odey Asset Management, which were published Friday at Companies House. The firm’s parent company, Odey Asset Management Group, saw revenue fall from £47.5 million to £31.2 million for the year. A note in the document, seen by MarketWatch, said: “Although the year shows a fall in revenue, this was in line with expectations based on net outflows of assets under management.”

Wall Street Stocks Market Insider Trading

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Third Point Offshore Lowers Fees; Expects Chairman Hire In January (ALLISS) (Morningstar.co.uk)
LONDON (Alliance News) – Third Point Offshore Investors Ltd said Friday its shares will be switched into a newly-created share class of its master fund, managed by Third Point LLC, as the company also has made “significant progress” in its search for a new chairman. Third Point Offshore Investors is a closed-ended feeder into Third Point Offshore Fund Ltd, which is the “flagship” hedge fund of Third Point. Starting from January 1, Third Point Offshore Investors will switch its entire holding into a newly-created share class, with a 25% quarterly redemption gate. Third Point said it will redeem an “appropriate” amount each quarter to account for share buybacks and fees and expenses.

Industry Insiders are Predicting a Battle Between the Biggest Hedge-Fund Names for Top Quant Talent (Business Insider)
The quants developing algorithm-driven funds are the latest bogeyman old-school stock-pickers have pointed to for why the market has been swinging wildly, but that isn’t stopping managers from recruiting their own. Billionaire old-school traders Stanley Druckenmiller and Leon Cooperman have said the recent jolts of the market are the fault of computer-controlled trading, labeling the market unpredictability a “nightmare” and a “Wild West environment,” respectively. Cooperman even called on the Securities and Exchange Commission to investigate quants in a CNBC interview earlier this month.

Insider Buying: BioCardia Inc (BCDA) Major Shareholder Purchases 2,000,000 Shares of Stock (WeekHerald.com)
BioCardia Inc (OTCMKTS:BCDA) major shareholder Phillip Md Et Al Frost acquired 2,000,000 shares of the business’s stock in a transaction on Monday, December 24th. The shares were purchased at an average price of $0.75 per share, with a total value of $1,500,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Insider Selling: Mercantil Bank Holding Corp (AMTB) Major Shareholder Sells 4,922,477 Shares of Stock (MareaInformativa.com)
Mercantil Bank Holding Corp (NASDAQ:AMTB) major shareholder Servicios Financiero Mercantil sold 4,922,477 shares of the stock in a transaction that occurred on Friday, December 21st. The stock was sold at an average price of $13.00, for a total value of $63,992,201.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Insider Selling: Stanley Furniture Co. (STLY) Major Shareholder Sells 324,014 Shares of Stock (ModernReaders.com)
Stanley Furniture Co. (NASDAQ:STLY) major shareholder Solas Capital Management, Llc sold 324,014 shares of the business’s stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $0.42, for a total transaction of $136,085.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Insider Selling: AnaptysBio Inc (ANAB) CEO Sells 41,728 Shares of Stock (BaseballDailyDigest.com)
AnaptysBio Inc (NASDAQ:ANAB) CEO Hamza Suria sold 41,728 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $69.36, for a total value of $2,894,254.08. Following the completion of the transaction, the chief executive officer now owns 71,792 shares in the company, valued at $4,979,493.12. The transaction was disclosed in a document filed with the SEC.

Insider Selling: HMS Holdings Corp (HMSY) Director Sells 25,721 Shares of Stock (FairFieldCurrent.com)
HMS Holdings Corp (NASDAQ:HMSY) Director Richard H. Stowe sold 25,721 shares of the business’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $34.50, for a total transaction of $887,374.50. Following the completion of the sale, the director now directly owns 72,437 shares in the company, valued at approximately $2,499,076.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission.

Insider Buying: Carvana Co (CVNA) Major Shareholder Acquires 205,000 Shares of Stock (PressOracle.com)
Carvana Co (NYSE:CVNA) major shareholder Spruce House Partnership LP acquired 205,000 shares of the stock in a transaction that occurred on Monday, December 17th. The stock was acquired at an average price of $32.85 per share, for a total transaction of $6,734,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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